Grupo Financiero Galicia (NASDAQ:GGAL) Upgraded by The Goldman Sachs Group to “Hold” Rating

The Goldman Sachs Group upgraded shares of Grupo Financiero Galicia (NASDAQ:GGAL) to a hold rating in a research report released on Monday morning,Zacks.com reports.

Other research analysts also recently issued reports about the company. Zacks Research downgraded Grupo Financiero Galicia from a “hold” rating to a “strong sell” rating in a report on Thursday, August 28th. JPMorgan Chase & Co. raised Grupo Financiero Galicia from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $46.00 to $75.00 in a research note on Tuesday, October 28th. Citigroup raised shares of Grupo Financiero Galicia from a “neutral” rating to a “buy” rating in a research report on Monday, November 3rd. Hsbc Global Res raised Grupo Financiero Galicia to a “strong-buy” rating in a report on Wednesday, October 1st. Finally, HSBC initiated coverage on shares of Grupo Financiero Galicia in a research report on Wednesday, October 1st. They issued a “buy” rating and a $60.00 price target for the company. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Grupo Financiero Galicia has a consensus rating of “Moderate Buy” and a consensus price target of $74.25.

Grupo Financiero Galicia Stock Up 1.8%

Shares of NASDAQ:GGAL traded up $1.01 on Monday, reaching $56.20. The company had a trading volume of 596,293 shares, compared to its average volume of 1,899,176. The firm has a market capitalization of $8.29 billion, a PE ratio of 29.55 and a beta of 1.58. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 0.23. Grupo Financiero Galicia has a 52-week low of $25.89 and a 52-week high of $74.00. The firm’s 50 day simple moving average is $37.41 and its 200-day simple moving average is $47.40.

Grupo Financiero Galicia Dividend Announcement

The business also recently announced a monthly dividend, which was paid on Monday, November 10th. Investors of record on Monday, November 3rd were issued a dividend of $0.1349 per share. This represents a c) annualized dividend and a dividend yield of 2.9%. The ex-dividend date was Monday, November 3rd. Grupo Financiero Galicia’s dividend payout ratio (DPR) is presently 84.74%.

Hedge Funds Weigh In On Grupo Financiero Galicia

Institutional investors have recently added to or reduced their stakes in the company. Hsbc Holdings PLC increased its stake in Grupo Financiero Galicia by 3.1% during the first quarter. Hsbc Holdings PLC now owns 11,851,835 shares of the bank’s stock valued at $644,503,000 after purchasing an additional 359,708 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Grupo Financiero Galicia by 52.2% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,937,465 shares of the bank’s stock valued at $97,629,000 after purchasing an additional 664,533 shares in the last quarter. RWC Asset Advisors US LLC lifted its stake in Grupo Financiero Galicia by 848.1% during the third quarter. RWC Asset Advisors US LLC now owns 1,540,187 shares of the bank’s stock valued at $42,448,000 after purchasing an additional 1,377,735 shares during the last quarter. PointState Capital LP boosted its holdings in Grupo Financiero Galicia by 160.5% during the first quarter. PointState Capital LP now owns 1,504,157 shares of the bank’s stock worth $81,931,000 after buying an additional 926,820 shares in the last quarter. Finally, INCA Investments LLC increased its holdings in shares of Grupo Financiero Galicia by 1.0% in the third quarter. INCA Investments LLC now owns 1,080,161 shares of the bank’s stock valued at $29,769,000 after buying an additional 10,283 shares in the last quarter.

About Grupo Financiero Galicia

Grupo Financiero Galicia SA, a financial service holding company, provides various financial products and services to individuals and companies in Argentina. The company operates through Banks, NaranjaX, Insurance, and Other Businesses segments. It also offers personal loans; express and mortgage loans; pledge and credit card loans; credit and debit cards; and online banking services, as well as savings, deposits, and checking accounts related services.